Private Fitness Llc

1074 WordsMay 19th, 20105 Pages

Case 15-1: Private Fitness LLC*
Private Fitness LLC is a springboard case that can be used as the basis of a discussion of management's need for information. It serves the same purpose for Part 2 of the book that the Kim Fuller case did for Part 1.
Approach
This case uses a small business as its setting so that students can visualize the business's activities, and so questions of generally accepted accounting principles will be essentially irrelevant. In fact, a shift the student needs to make as he/she begins Part 2 of the book is to think of accounting primarily in terms of its usefulness to a company's management, rather than in terms of reporting to shareholders and other outside parties. Because of the differing focus of Part 1 of…show more content…

These include the following:

1. Scheduling system. What instructors, and other employees, should be on duty at what hours? When should classes of particular types be scheduled? What rooms should be used for what purposes at what hours? When should facility cleaning and maintenance be scheduled? What is the capacity utilization? Are more space, equipment, or instructors needed?

2. Revenue system. Revenue is dependent on the number of clients attending classes and private workouts.

3. Payroll system. What pay is due the employees? Most of the compensation is commission-based, paid as a percentage of revenue associated with the instructor’s activities. But the manager, Kate Hoffman, is also paid a salary.

4. Operating cost system. Bills for on-going items, like rent, heat, and light, need to be paid on time. The expenses need to be recorded accurately and tracked over time so that trends can be monitored.

5. Fixed asset system. The costs of the facility and equipment need to be assigned to time periods.

Issues that might be raised:

1. How often should Rosemary prepare summary financial statements (e.g., monthly, quarterly, annually)? Does she need an “income” statement, or is a cash flow statement sufficient for her management purposes? Does she need to prepare a balance sheet at all?

2. How should prices be set? Should they be set only by looking at competitors’ prices, or should they depend on costs (e.g., cost of the space and…

We discussed 5 questions of family members working together and some of the challenges family members face when entering a partnership. We also discuss the marketing strategies and web page structure of www.Zatswho.com.
Case 3 Questions: Zatswho LLC Can A Mother–Daughter Team Be Successful Entrepreneurs?
Questions and Responses
Q1. What tips can you offer Cooper and Schwinoff about family members who start and run a business together? What pitfalls would you warn them to avoid?
When considering…

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| Diversity: Having a diverse workforce is fundamental to Fitness First’s success, |
|not because it’s the right thing to do, but because it makes total business sense. We|
|employ people from every background and walk of life. It gives us a vast mix of |
|experience and perspectives and means we are better…

overall measure of capacity for the facility isn’t much help in determining if Fitness Plus is capacity constrained. If the service delivery process for each member were homogeneous, such as a cafeteria or airline flight, then an overall measure of capacity, such as the number of members serviced over a given period of time, would be an appropriate measure of capacity. However, the service delivery process at Fitness Plus is a menu-driven process where each member chooses from a range of services…

continued to see an increase in the amount of health clubs/fitness centers. Since 1992, the United States has seen the number of health clubs increased by almost 40 percent, from 12,635 to 17,531 facilities. It has also seen an increase in membership by almost 60 percent, from 20.8 million to 32.8 million. What this all means for Fun 4 Life Fitness Center, LLC is that the market is ever growing which translates to more competition. Most fitness centers offer a variety of services to address the needs…

Wino LLC is a leader in mobile technology as well as custom mobile-based application solution. We build from scratch, software platforms that helps thousands of businesses as well as organizations leverage telecom as well as mobile technology in order to maximize their revenue as well as to meet their organizational objectives. Wino LLC's areas of focus are diverse and includes monetization of content, business process improvement, content publishing, e-learning solutions, brand awareness as well…

9-107-061
MARCH 8, 2007
WILLIAM J. BRUNS
Survey Masters LLC
Natalie Patel and Carlos Lopez met while studying statistics together at Northeastern
University in Boston. After graduation Patel had accepted a position with the largest independent
marketing research firm in the United States, and Lopez went to work for Progressive Insurance
outside Cleveland as an actuary. At their tenth class reunion in 2003 they met again. Each was
somewhat unhappy in their current job, and both wanted…

the Limited Liability Company, commonly known as LLC. Limited Liability Companies are a comparatively new form of business structure. It came about in 1977 once Wyoming was the first state to consent to such an organization, which merged the tax advantages of a partnership with the limited liability benefits that come with corporations. It took more than ten years following that decision for the Internal Revenue Service, or IRS, to declare that an LLC would be considered a partnership when pertaining…

primary interest by effectively managing their community resources.
In these areas, a planned sequence of learning experiences is designed to support a progression of student development. This allows kids through 6th grade to be introduced to sports, fitness, and teamwork in order to be better prepared for the middle and high school age. In 1975, the United States House of Representatives voted to require school physical education classes include both genders. Some high school and some middle school PE…

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Bibliography=========================================⇒ 22
FitZone is a mobile fitness application that allows users to make use of the convenient smartphone application wherever they are. FitZone creates a tailored atmosphere for people to pursue their fitness goals.
FitZone is based on two simple facts:
1. A combination of fitness and nutrition tools made into one simple mobile application.
2. Support better and healthier lifestyle directed to Generation…